17 Money Tips I Learned While Living in Sweden


If money makes the world go ‘round, then
it also makes my head spin. I used to be financially clueless – burning
through paychecks before the bills were even paid. But now that I’ve been living in Sweden
for a few years, here’s what I’ve learned from the locals… 1) Make finances your priority. At almost 60%, personal income taxes in Sweden
are among the highest in Europe. And about half of what’s left of your salary
goes to rent. Whether by choice or because of this circumstance,
budgeting and spending smart are a top priority here. 2) Saving is a national virtue. The Swedes feel quite ok refusing from anything
they don’t absolutely need. They even have a word for this concept called
“ ” that translates as “enough” or “just the right amount” in English. Living modestly to keep expenditures at a
minimum means they can rest assured that their bank account will only grow! 3) Plan all purchases, even the smallest. Sitting down and drawing up a detailed plan
of where your money is going is key here. Apart from major purchases like household
appliances or travel expenses, they’ll even figure out a budget when throwing a party
and visiting relatives. As for impulse purchases, forget about it! 4) Respect other people’s money. Asking somebody about their income and spending
habits is considered rude here. Finances are a personal subject that’s not
often shared, both conversationally and literally! If you’re looking to borrow a few bucks
(er, kronor) from a friend because you blew your whole paycheck on the latest smartphone… Nope, Sweden isn’t the country for you. 5) Learn about finance at an early age. Here’s something I could relate to as an
American – they have HomeEc in Swedish schools too. Only, instead of just learning how to sew
on a button and bake cookies (at least, that’s all I remember doing in that class), they
also teach kids how to make a household budget. What goes toward groceries, bills, savings,
and all the other stuff they’ll need to know as adults! 6) Find natural ways to cut spending. During the winter, the sun sets in Stockholm
at around 3pm, which means keeping your place lit up can equal a huge electric bill. That’s why in Swedish apartments, there’s
no real need for curtains or blinds. They also try not to use too many electronic
devices, and you’ll see plenty of candles and low-energy lightbulbs. 7) Exercise for free! Speaking of the short daylight hours in Scandinavia,
the biggest change in my life is that I get out more. You’ll see a lot of Swedish people hiking,
running, cycling, and doing yoga outdoors. Why pay for a gym membership when you can
get active (and get a little sunshine) for free? 8) Get rid of stuff you don’t use anymore. These things can be gifted or sold to someone
or sent to recycling. Nobody here will store useless junk on the
balcony, and they certainly won’t buy things they see no need for. This rule even applies to the older generation,
which will surprise anyone with grandparents that have a hard time parting with their “collections”! 9) Buying used is just as good! If you decide to sell your stuff, you’ll
find plenty of buyers (if it’s not useless junk, of course!). The Swedes don’t care too much about having
the latest and greatest (a.k.a. the most expensive) models of smartphones, cars, and other gadgets. Even when they already have those things,
they’ll keep using it as long as it’s working fine. 10) Don’t overspend for the holidays. That is, don’t go out and get a live tree
each year. Forget about the fake plastic ones as well! They’re too big, you have to buy all these
decorations for them, and it’s just wasteful. Trees in that classic minimalistic Swedish
style look just as cozy and beautiful! You can even DIY one for a fun project! 11) Get things on sale, even if it’s out
of season. Why pay 2 to 3 times more for something when
it’ll be cheaper in a couple months? The Swedes buy swimming suits in fall and
winter coats in spring when they get incredible mark-downs. 12) Reduce, reuse, recycle. If you buy soft drinks in a grocery store,
you’ll be charged an extra krona. If you bring back an empty bottle or tin,
you’ll get that money back. And they do bring back empty packages since
every krona counts! Even gravel they spread around the streets
in winter is gathered in spring, washed, and reused the next winter. 13) Stay far away from debt. Getting a loan isn’t easy in Sweden, but
it’s that way for a reason. Banks make it hard because they don’t want
people going into debt that they won’t be able to pay back. Makes sense! 14) Invest. Instead of borrowing money you don’t have,
the Swedish philosophy is to grow what you do have! There are special courses where they teach
people how to manage an investment portfolio. It’s also quite common in Sweden to give
stocks as a present to kids so that those investments grow over time with the child. 15) Get your own property later in life. If you’re young, you’ll have a hard time
getting financed for a car or house. Banks will trust you only if you have a stable
career and have saved enough money for the first payment. But if you do buy an apartment or a car in
Sweden, you know for sure that you’ll be able to afford it! 16) Always think ahead. The Swedes start setting aside retirement
money at a relatively young age, around 35 or so. Nobody’s waiting for their adult children
to support them during their golden years. In fact, they’re not just looking to save
enough pension money for modest lagom-style retirement, they want to… 17) Indulge…when you retire. Now that they’ve lived a long life of saving
every krona and refusing from the luxuries of life, many Swedish pensioners can afford
pretty much anything. Older folks here have no problem traveling
the world, buying themselves nice gifts, and just having the fun they’ve denied themselves
for so long! And now that I’m so interested in keeping
my finances in order (thanks, Sweden!), I’ve got a few more of my own personal tips that’ll
help you save a TON. Let me know down in the comments if you’re
already doing any of these things! – Buy in bulk. So, for example, a 12-pack of soap will be
cheaper than the same number of separate bars bought individually. Plus, you won’t have to keep going to the
store (and spending more!) because you won’t run out of stuff as often. – Save eating out for special occasions. It’s fine if you’re getting together with
friends or surprising your mom on her birthday with dinner at a nice restaurant. But avoid the temptation to grab a burger
on your way home from work. I know it’s hard because we’re all too
tired and busy to cook, but that’s why I… – Cook for the whole week. It’ll save you time and energy that you
can spend on other things (because time is money, right?). I like to make a big heaping pot of soup or
chili that’ll get me through several days. Make a bunch of pancakes and freeze them for
this week’s breakfast. Long story short, buy AND cook in bulk! – Respect your belongings. That way, you won’t have to repair or replace
it as much. I used to go through footwear so fast because
I’d just carelessly step on the heel and slip it off that way. Now that I’m more diligent about untying
them and taking them off carefully, my shoes are serving me much longer! – Turn off the heating or AC before you go
to bed. Get a warm blanket for cold nights, and open
a window when it’s a little too hot. Hey, it’s cheaper than a sky-high electric
bill. You’ll be asleep, you won’t even notice! – Wash dishes in a sink full of water. I used to be bad about doing the dishes under
a running faucet. It’s wasteful for your wallet and for the
environment! – Don’t buy bottled water. You have an endless supply of H2O right in
your faucet. Get a reusable water bottle and fill it before
you head out. If the tap isn’t exactly safe to drink where
you live, then boil it or get a good-quality filter. Even if it’s pricey, it’d be a smart investment! – Book tickets online in advance. Whenever I visit my family in the States,
it’s always months after I bought the ticket. Don’t wait till the last minute – prices
go up the closer that date comes. – Stop buying foods that you constantly throw
away. I can’t tell you how many times I’ve tossed
spoiled bell peppers. I don’t know why I kept buying them – I
guess I’m just not a pepper person! Hey, he’s a pepper, she’s a pepper, they’re
a pepper, it’s a pepper, wouldn’t you like to be a pepper too? …oh never mind. Hey, if you learned something new today, then
give the video a like and share it with a friend! And here are some other cool videos I think
you’ll enjoy. Just click to the left or right, and stay
on the Bright Side of life!

100 thoughts on “17 Money Tips I Learned While Living in Sweden

  1. In America you can't buy clothes out of season at stores because of the low demand, but I guess you can buy it on Amazon.
    If you live in California the taxes are high, the colleges are expensive, cost of living is expensive(there's even a gas tax!).
    Conclusion: It's impossible to save a lot of money in California

  2. Good try at trying to glamorize the ABJECT POVERTY of Sweden because they are forced to live on 20 percent of their income. All you BERNIE LOVERS, this is poverty on steroids called HIPSTER MINIMALISM. I admire living in moderation, but I will be living in the USA capitalist economy that allowed me to purchase my fourth home. Wow its almost CUBA IN SWEDEN!!!

  3. 60% income taxes? Is this a socialist or communist country? It means if you earn $100,000 a year, you're left with basically $40,000. Who is voting Bernie or Butt's edge now?

  4. Yeah good luck with the "bringing back a bottle to get a coin back" in USA! This should be ILLEGAL: If they charged you 40 cents (or whatever, sometimes it's over a dollar with raw milk glass bottles!) then THEY SHOULD TAKE IT BACK AND PAY YOU! NO store I found in USA, even if they advertise it. One time learned my lesson: I went back to the store with my empty plastic and had to go back home with them! They pointed me to the "recycling center" which , of course, does NOT pay you back!

  5. What if Swedes die before the reach old age where they can afford anything? I mean look at your "guests", they're terminating your underage BLONDE daughters right and left!

  6. You CANNOT rinse dishes in a sink FULL OF SOAPY WATER!! WThe F??? My mother made me wash my face as a kid in a sink full of water. Guess what? After 1 rinse, it's DIRTY soapy water! One time I ate at a woman whose food tasted SOAPY! I gagged it out. Later I saw her do the dishes: she did NOT even bother rinsing more than 1 stream: she put the plates on the dry rack FULL OF SOAP! Some yanks are totally nuts!

  7. Wait… you say you live in Sweden and you pronounce it "LaNgom"? I don't think you live in Sweden. (But if you actually do, get yourself in an SFI class. Tack snälla)

  8. 0:52 in Sweden we usually joke about the fact that in other countries don’t say Lagom and we could laugh for hours about that topic

  9. I am sorry but when the temperature is 35C outside late at night opening a window doesn't work. I don't mind working outside during the day even at 45 C But a nights sleep is important. So I built a small bedroom with the best insulation I could get. That is the only thing that I cool.

  10. Ummm…that's not a veggie pepper reference that's an OLD
    DR.. PEPPER SODA OR POP Commercial! I can't drink it anymore but u can't take away my good memories Mr. Brite Side! LOL!
    ANYONE know of a program where the US has return soda or water bottles to the store and get a credit back? I know I would do it! We can learn a lot from other countries! We just need to be open to change…

  11. Debtsoff on Instagram 🙏🙏🙏🙏😢😢
    He’s a life saver
    No doubt my rent is due and he was the angel God sent to me

  12. easy loaded 9,000USD into my account, I texted him on 6 1 2 3 61 4523, he asked for few details and after it all I got the money

  13. I was the first one to like your video it is a dream come true Sorry that I did watch your video directly sorry😘😘😘

  14. Me: if u say a lie im going to say the truth in the comments right away but he had right in everything in winter it is dark at 3pm that true. Anyone else from sweden?

  15. You know that another neiborhood countrys do that same thing(Finland, Estonia and Norway){I'm not sure about Estonia and Norway but I'm sure that everything is almost same at Finland because I'm finish)

  16. I just recently got put on disability because i hurt my lower back pretty bad so we have had to modify our living drastically so i know what it's like to watch our money very closely

  17. I take care of my shoes and polish them everyday and keep them safe in a box, also, I use the same shoe pair for a year or two.

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